Themes of microeconomics, Microeconomics

Assignment Help:

Themes of Microeconomics

?? As per Mick Jagger & the Rolling Stones, “You can’t always get what you want”.

Why Not?

         ?? Restricted Resources

         ?? Infinite Wants

?? Allotment of limited Resources and Trade-offs

         ?? In a market economy

         ?? In a planned economy

?? Microeconomics and Optimal Trade-offs

         1. Consumer Theory

         2. Workers or labours

         3. Theory of the Firm

?? Microeconomics and Prices

          – The function of cost in a market economy

          – How prices are calculated

Microeconomics vs. Macroeconomics

Microeconomics is the basis of macroeconomic analysis.


Related Discussions:- Themes of microeconomics

Questions, Ask qI run a company that makes household power plants that use ...

Ask qI run a company that makes household power plants that use microeconomic textbooks to generate enough electricity each day for one house. Since there are a lot of used microec

Wealth tax, Wealth Tax: A tax in that owners of specific forms of wealth (l...

Wealth Tax: A tax in that owners of specific forms of wealth (likereal estate, financial wealth, or inheritances) should pay a specified proportion of that wealth to government, us

Calculate price elasticity of demand, 1. Consider the consumption decisions...

1. Consider the consumption decisions of R.B. Turbo, a new student at Teachers College, Columbia University. Ms. Turbo has only available $1,000 in monthly income to spend on food

Allocation function, Allocation Function The shifting or reallocation ...

Allocation Function The shifting or reallocation of production property into or out of markets based on shifts in prices for the products or services produced in that market.

Composite goods, what is the effect on the market for dvd players if the pr...

what is the effect on the market for dvd players if the price of dvd rises

Economic acivity, The prevention of major swings in economic activity can b...

The prevention of major swings in economic activity can be handled most easily by the

Distinguish between fiscal and monetary policy, Problem: (a) Distingui...

Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government

Neoclassical economics, In neoclassical economics, equilibrium exists when ...

In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every

Explain the concept of land economic, (a) Give an overview of the Concept ...

(a) Give an overview of the Concept of Land Economic (b) Provide a definition of Land/Economics (c) Discuss the origin of Land Economics (d) Modern and Traditional Land Ec

HCA586, how do cooperative and noncooperative games differ

how do cooperative and noncooperative games differ

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd